Examine the Growing Demand for Video Identification in Business Operations

KYC Know your customer concept text neon. 3D render.

Manual identity validation procedures require customers to visit distant locations frequently. These practices are very time-consuming and lead to inaccurate authentication findings. Effective verification procedures require automated solutions to streamline the identity examination of remote customers. Video identification solutions serve as an effective measure for the evaluation of customer’s identities through online video call channels. Consequently, the online video authentication market acquired a $53.7 billion share in 2023. Video KYC algorithms are encrypted with deep-learning measures, which enhances their ability to identify identity spoofs and impersonators effectively.             

Impact of KYC Video Identification in the Examination of Impersonation Attacks  

Video identification, most formally known as video KYC operations, is the practice of conducting identity examinations to facilitate remote customers. These measures are encrypted with machine-learning systems, which streamlines the identification of high-profile customers. Video KYC operations facilitate real-time identity authentication because all the examination tasks are conducted through online channels. These checks play a pivotal role in the identification of various impersonation entities and prevent them from accessing the business services. Video identification checks are competent in examining the identities of various entities, which are examined below:

  • Impersonation attacks enable the imposters to create fake identity profiles using 3D-rendered facial masks. Through these practices, the identity spoofs pretend to be a legitimate entity during the onboarding procedures. However, these entities can’t dodge the strict authentication measures of the video identification methods. Video KYC processes are equipped with automated protocols, which identifies all the minor details of spoofing entities and highlights all the rendering and manipulating attempts. 
  • The imposters create synthetic identities by creating fake profiles through the utilization of authentic social security numbers. These attacks are far more exploitative as their source is difficult to examine. Although these actions are difficult to examine, the video identification measures can efficiently identify these entities in real-time. 
  • Recently, a surge in deep fake identity creation was observed. In these attacks, the imposters misuse the legitimate customer’s facial characteristics, vocal patterns, and body movements to formulate an entirely new profile. The video verification solutions are backed by enhanced technologies, which streamline the detection of unusual behaviorial patterns.            

Industries that Require Extensive Online Video Identification Services 

Digitization in identity authentication procedures increases their desirability in different industries. Video identification checks ensure that all the customers are extensively verified before accessing the financial services. 

  • Banking institutions can stimulate the account opening procedures of new remote customers. The customers’ financial documents are examined through online video call channels and cross-referenced with official databases. These databases evaluate whether the individual’s live facial characteristics align with the stored information.
  • Insurance institutions can utilize video identification checks to examine the identities of customers who make extensive insurance claims. These measures enable the insurance operators to evaluate the financial backgrounds of customers before proceeding with the insurance policy creation.        
  • Video KYC solutions are most frequently used for the authentication of customers accessing online business services. Many industries conduct business operations through online channels without having face-to-face interactions with customers. The video verification procedures streamline the authentication procedure and enable remote businesses to protect their services from illicit access. 

Examine the Process of Real-time Video Identification 

Video identification is a real-time procedure that allows businesses to examine the identities of registered customers. Once the customers are registered with any industry, the examiners reevaluate their identity credentials and send them an authorized link to join the video verification channel. The customers join the link and connect with the examiners. 

The identity examiners ask several questions from the customers and utilize facial detection systems to examine their facial characteristics. An enhanced 3D depth analysis measure is used to examine the customer’s facial characteristics against data stored in official directories. Once the identity details are analyzed, the examiners store the acquired information in encrypted databases for future evaluation.       

Facilitate a Customer-Centric Authentication Procedure With Video Identification for ID 

Video identification is a customer-centric authentication approach because it allows customers to personalize the characteristics of their identity examination agents. Customers can select experts who can easily understand their language, which allows them to present their concerns more effectively. This contactless authentication solution allows businesses to evaluate the customer’s facial characteristics and identity details against official datasets stored in government directories. Video KYC ensures compliance with the security protocols, which stimulate the protection of customers’ sensitive information from illicit usage.     

Wrapping It Up

Video verification solutions are revolutionary identity authentication measures because they are encrypted with digital security protocols. These services effectively examine the identity profiles of spoofing entities and prevent them from accessing legitimate business services. Moreover, the video verification algorithms facilitate remote authentication services, which is an extremely beneficial practice for evaluating customers from different locations. Remote verification reduces a significant amount of time and costs as all the authentication procedures are conducted through digital channels.   

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